SINGAPORE (Reuters) - Oil prices edged up in early Asian trade on Monday, recouping some losses from the previous session as hopes that OPEC+ will continue to curb output offset concerns of weaker fuel demand amid rising COVID-19 cases and higher production from Libya.
Brent crude futures for January rose 27 cents, or 0.6%, to $43.05 a barrel by 0043 GMT while U.S. West Texas Intermediate crude for December was at $40.48 a barrel, up 35 cents, or 0.9%.
Both contracts gained more than 8% last week on hopes of a COVID-19 vaccine and that the Organization of the Petroleum Exporting Countries (OPEC) and their allies including Russia will maintain lower output next year to support prices.
While fuel demand is slowing, Baker Hughes’ data showed that U.S. oil and natural gas rig count rose last week to their highest since May as producers, spurred by higher crude prices, return to the wellpad.
Read more from the original article:
风险提示：本文所述仅代表作者个人观点，不代表 Followme 的官方立场。Followme 不对内容的准确性、完整性或可靠性作出任何保证，对于基于该内容所采取的任何行为，不承担任何责任，除非另有书面明确说明。
暂无评论，立马抢沙发